Board of Directors

Sandy L. LoutittMr. Sandy Loutitt is the founder of the Builders Capital organization and the President and Chief Executive Officer of the Fund and the Manager. Mr. Loutitt serves on both the Board of Directors of the Fund and the Manager. He is a licensed mortgage broker and has been actively involved in construction financing for over 10 years. Mr. Loutitt is an active member of the Alberta Mortgage Brokers Association. Currently, he is also the President of Builders Capital Construction Corp. which is a member of the Canadian Home Builders’ Association. He received a Bachelor of Arts degree in Economics from the University of British Columbia in 1996.

John Strangway
Mr. John Strangway is the Chief Financial Officer for the Fund and the Manager and is responsible for overseeing reporting and compliance issues. He has an extensive background in public practice and also serves as the Chief Compliance Officer for the Manager. He is a member of the Board of Directors of the Fund and the Manager. Mr. Strangway received his Bachelor of Commerce degree from the University of British Columbia in 1990 and obtained his Chartered Accountant designation from the Institute of Chartered Accountants of British Columbia in 1993.

Brent J. Walter
Mr. Brent Walter is a partner with the firm ProVenture Law LLP in Calgary, Alberta, and practices primarily in the areas of securities and corporate/commercial law. Mr. Walter currently serves as a director and officer of a number of public and private corporations, including Infrastructure Materials Corp. (TSX-V, OTCBB), Canadian Platinum Corp. (TSX-V), and Pacific Iron Ore Corporation (TSX-V), and serves as a member of the audit committee of Infrastructure Materials Corp. and Canadian Platinum Corp., respectively. Mr. Walter received a J.D. degree from the University of Saskatchewan in 1990. Mr. Brent Walter is a member of the Law Societies of Alberta (active) and Saskatchewan (inactive).

David E. T. Pinkman
Mr. David Pinkman has been the Chief Financial Officer and Director of Saccharum, a junior oil and gas exploration company (TSX-V) since its inception in May 2007. Mr. Pinkman has also previously served as a director and officer of a number of public companies including PanWestern Energy Inc. (now Valeura Energy Inc.), Explorator Resources Inc., and Powermax Energy Inc. He has also served on the Board of Directors of Renewable Energy Inc., (TSX-V) and Renewable Power & Light Plc. From 1991 to 2000, Mr. Pinkman was also a partner practicing primarily in the fields of corporate and securities law with the firm of Pinkman, McArdle Barristers and Solicitors. He received a Bachelor of Arts degree from the University of Calgary in 1980, an LL.B. degree from the University of British Columbia in 1984, and became a member of the Law Society of Alberta in 1985.

John A. Drummond
Mr. John Drummond is the President of Drummond Financial Services Ltd., a private company engaged in mortgage lending for selected market areas. Mr. Drummond received an LL.B. degree from the University of Windsor in 1976 and became a member of the Law Society of Alberta in 1977. From 2004 to 2005, Mr. Drummond was appointed counsel at Gowling Lafleur Henderson LLP. Mr. Drummond serves on the Fund’s Independent Review Committee(IRC). In private practice for 28 years, Mr. Drummond was Chair of the Foreclosure Subsection of the Canadian Bar Association in Calgary and specialized in litigation relating to interests in land.

Michael I. Matishak
Mr. Michael Matishak is a Chartered Accountant and provides financial advisory services to companies operating in the energy sector. Mr. Matishak has been the Chief Financial Officer of Caltor Corporation since April 2007. Mr. Matishak serves on the Fund’s IRC. Mr. Matishak began his career with Arthur Andersen in 1983, where he became a senior auditor and tax accountant. Mr. Matishak also obtained extensive international accounting experience during his 13 year tenure with International Advisory Services Ltd. (IAS) in Bermuda. Mr. Matishak received a Bachelor of Commerce degree from the University of Alberta in 1983 and obtained his Chartered Accountant designation from the Institute of Chartered Accountants of Alberta in 1986.

Victor P. Harwardt
Mr. Victor Harwardt is a partner with the Vancouver law firm of Salley, Bowes, Harwardt LC practicing in the areas of securities, corporate finance, and corporate and commercial law. He assists companies in the natural resource and technology sectors in a variety of matters including public and private equity financings, stock exchange listings, mergers, acquisitions and other corporate combinations. A significant element of his practice is international in scope.

Mr. Harwardt has served as a director or senior officer of publicly listed companies. He holds a Bachelor of Arts, with distinction, from the University of Calgary and obtained an LL.B. from the University of British Columbia in 1982. Mr. Harwardt was admitted to the Law Society of British Columbia in 1984.